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like no other network can. it is tuesday, october 30th. special coverage of superstorm sandy begins right now. >>> welcome back, everybody. lots to update you on this morning early before the sun comes up, lots of damage to talk about from last night. the walloping that new york's gotten from superstorm sandy. let's talk about the fires that are burning in breezy point queens. two dozen homes are actively on fire. 200 firefighters are on location there. they are trying to battle the fire. the fire started from downed power lines. you're looking at some of the latest pictures coming in to us this morning. downed power liens started this fire. the big problem for the firefighters, a lack of water appreciate your. 50 homes have burned to the ground. two dozen more are in the process of burning. we are following the story for you as the day continues. we'll have more information on that. more to tell you about, including floods and power outages. new york city brought to its knees in a large way. superstorm sandy was an epic weather event, many people are calling it. millions of lives h
that collapsed during superstorm sandy is still hanging precariously over one of the busiest cross streets in manhattan. we'll take you live to the scene next and the massive litigation that is sure to follow because this crane collapsed as it was sitting on the roof of this building even though we anticipated this storm. >>> later, millions are still without power as we speak across the east coast. damage estimates mounting in the billions of dollars. courtney reagan is tallying it up in few minutes. >>> and how will hurricane sandy affect the elections? we're back in a moment. oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550
of superstorm sandy. the latest estimates coming out. ashley: the trading now but why not monday or tuesday? charlie gasparino working this story for us. we will be here soon to talk about it more. dollars fairing today how the currency is doing against the greenback. the yen and canadian dollar is down. we will be right back. >> 21 minutes past the hour your fox news minute. officials confirmed a florida bomb disposal team was sent to guantanamo navy base in cuba after hurricane sandy turned up what appeared to be a 500 pound bomb. the object which was discovered around and:00 a.m. tuesday was entered. the base posted an all clear notice on its face those page this morning. superstorm sandy claimed the life of an off-duty police officer monday night. nypd says 28-year-old died while assuring seven family members to safety as floodwaters surged into his staten island home. the officer was assigned to the department's first precinct. take a look at this incredible video. sandy shows off her strength as she ripped this tree out of the ground. this happened on the north shore of long island at
here on nbr! >> tom: hurricane sandy is now super-storm sandy as it clashes with another weather system, bringing wind, rain, and snow to parts of the mid-atlantic and northeastern u.s. she has cut a path of destruction, flooding, and massive power outages as the death toll from the storm stands at 17 across seven states. even as sandy makes her way to canada, the destruction is devastating. high winds pushed the atlantic ocean up and over seawalls, flooding entire neighborhoods. the wind and water teamed up to cut power to millions of people along the eastern seaboard. the storm surge even continued today as sandy tracked through western pennsylvania and new york state. the storm has affected an estimated one out of every five americans, bringing some business to a standstill over flooding, closed airports, and no public transportation. while rescue efforts continue tonight, early damage estimates are still rough, running between $10 billion and $20 billion, according to eqecat. hurricane irene did $10 billion damage 14 months ago. >> susie: wall street was closed again today for the s
in washington with some words of encouragement in the aftermath of superstorm sandy. we welcome you to "closing bell." mari maria, how are you doing? >> i'm doing well. i'm coming to you live from rockefeller center in new york city. the market closed once again today. it is back to business tomorrow, though, with the new york stock exchange and the nasdaq announcing plans for normal trading hours tomorrow. >> i'm bill griffeth. the superstorm did put the brakes on wall street for those two days. the death toll, unfortunately, continues to rise. millions are still without power across several states and will be for several days. but tomorrow will mark a big step toward normalcy for america an its economy as the stock market gets set to open once again. the big question now is, what happens when that opening bell rings tomorrow morning after such a long hiatus and such a disastrous storm? >> really unprecedented. we have team coverage today. scott cohn with the latest on the flooding near wall street. courtney reagan is monitoring the power outages. jackie deangelis is in a new jersey town. we k
. >>> the price tag on damage by superstorm sandy could reach as much as $50 billion according to new estimates by eqecat. the widespread outages of electricity and subway service could push the estimates higher. >>> as it wrists down the value of past investments ahead of another restructuring. that is the latest from the fox business network. giving you the power to prosper. melissa:. lori: the obama administration says it is still investigating the attacks in at the consulate in benghazi but with days before the election the american people are unhappy with the job done there. according to latest "fox news poll", 39% approve the job obama is doing on libya and 47% voters disapprove. lou dobbs is here. you've been a outspoken critic on the handling of the benghazi situation so what does the poll reflect? >> the poll reflects the sentiment, without knowing the details, understand that this administration has stonewalled, refused to be forthcoming not details but even broad brush strokes what was going on in benghazi before the attack. how much warning we had. it was, it's, it's a time for fran
-digit decline to end the week. >>> meantime, verizon is warning that now that superstorm sandy could significant hit its bottom line. what about at&t? has it been hit as well? comparing those two coming up next. >>> and how will sandy impact clorox? the ceo will join us exclusively later on the "closing bell." stay with ugh. ♪ ♪ mom? dad? guys? [ engine turns over ] [ engine revs ] ♪ he'll be fine. [ male announcer ] more people are leaving bmw, mercedes and lexus for audi than ever before. take advantage of exceptional values during the season of audi event. at legalzoom, we've created a better place to turn for your legal matters. maybe you want to incorporate a business you'd like to start. or protect your family with a will or living trust. legalzoom makes it easy with step-by-step help when completing your personalized document -- or you can even access an attorney to guide you along. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized documen
today after more than 18,000 flights were canceled as a result of superstorm sandy. melissa? >> courtney, thanks for that rundown. our very own scott cone has been braving the storm from manhattan's battery park. he joins us with the latest on how lower manhattan including the financial district has faired in sandy's wake. scott? >> reporter: melissa, if you consider the fact that the stock exchanges are going to re-open as well as the kmcommodity exchange, the new york merc in the financial district i suppose it faired pretty well considering they'll get back up and running after two days down after such a historic storm. if you look behind me, new york harbor is looking a whole lot more like its normal self. the waters have calmed down quite a bit. the problem is that before they did, a lot of this harbor was left in places where it doesn't belong like the brooklyn battery tunnel. 6,000 feet long connecting manhattan and brooklyn. it flooded entirely end to end and remains flooded tonight. just one of the many transportation arteries still shut down. the new york city subway system has
days left vision gets cloudy. liz: did superstorm sandy already cast her vote? rich edson in washington, d.c. how do you cast that election. >> sandy carve ad path in states mostly decided president obama is well ahead in connecticut, new jersey and. some officials say sandy interrupted absentee voting in number of place although the state says there will be no problems on election day. ohio polling is in margin of error and there are pouter outages. election officials say there is currently power at all voting locations. they say early voting is moving smoothly. both candidates are in the buckeye states state with a full day of campaigning today. >> got anxious and attacking me day in and day out. attacking me does not create an dend today for him. we have a plan to get the economy going. >> what the governor is offering sure ain't changed. giving more power back to the biggest banks isn't change. leaving millions without health insurance isn't change. another five trillion dollar tax cut that favors the wealthy isn't change. >> they are pitching their closing arguments for president o
superstorm sandy was coming? liz: well, certainly last week. >> yeah, that's what i'm saying -- liz: midweek if not earlier. >> i came back from dallas on saturday because on thursday i knew this thing was happening. so the exchange knew it was coming as well. all the exchanges. here's what we know, the major exchanges had a big meeting on friday, discussed how they might plan for a monday opening. they had the same -- they had meetings with themselves and talking to their customers ie the brokerage community. we should point out that the sec communicated to the exchanges they wanted a monday opening as well. we should point out that the nyse told the trading community, both friday and saturday, that they should plan on a normal opening. okay? they did tell them that there's always contingency plans out there, ie, we may go full electronic. no floor traders, but, you know, we're doing a monday opening. what did that mean to the brokerage community? the goldman sachs, the credit suisse, what did that mean to the big traders? they have their systems in place to deal primarily with the integrat
to the continuing coverage of superstorm sandy. the death toll is along -- is among those on the east coast and the national guard is there as well. >>> a gas station exploded in mantoloking. firefighters think the explosion resulted from monday's fire that destroyed 14 homes. however, firefighters have been unable to reach the scene as the roads are impassible. the town, which is about a mile east of trenton is under a mandatory evacuation because of sandy. >>> well, take a look at what's left in breezy point, new york. we brought you -- we were covering this yesterday morning. entire blocks of homes and businesses. they were just destroyed by flames. monday night into tuesday morning. the last county, 111 homes burned to the ground and then the hurricane-force winds fanned those flames. well, later today, president obama will tour storm damage in new jersey while mitt romney lets -- gets back on the campaign trail. coming up for you at 7:15, how -- how sandy is affecting the presidential race and why one of mitt romney's prominent supporters is praising president obama. >>> and at
. in washington the final push of the campaign is on after the unplanned break caused by superstorm sandy. president obama and governor romney back on the campaign trail and rich edson is watching this. rich: intense campaigning for both candidates in highly contested states. president obama in wisconsin and nevada and colorado. mitt romney is campaigning throughout virginia criticizing the president for its latest economic plan, proposing a new cabinet position. secretary of business. >> came up with an idea last night which is to create the department of business. i don't think adding a new chair in his cabinet will help add millions of jobs on main street. rich: president obama says the position would streamline the federal government for businesses. in wisconsin the president is arguing his administration has made progress and a vote for governor romney is a vote for president george w. bush's policies. >> governor romney has been using all his talents as a salesman to dress up these very same policies that failed our country so badly. the very same policies we have been cleaning up a
department after superstorm sandy hits. the man was lying on his roof when an officer in a basket was lowered to the roof and pulled him up. you can see that it's just absolutely amazing. of course a lot of this kind of stuff going on. now, one forecast firm is predicting that superstorm sandy could cost 20 billion dollars in property damage in the united states. joining us now, the president of forensic weather consultant. howard, this is obviously just the beginning, isn't it? >> this is just the beginning. you know, i know for a fact from talking to some friends of mine, that searchs and rescues are still -- that searches and rescues are still underway, making sure there are no victims left in the houses. we have a lot of emergency personnel there. then we can start to pick up the pieces. storm surge is only about 1 to 3 feet. it's still in the homes right now in parts of suffolk county and we have until about 12:00 noon today before high tide starts to go out. that's the good news. that's when the weather will start receding and some of these homes could be pumped out but not before the d
"closing bell." stay with us. >>> cleanup costs. superstorm sandy causing billions in damages. now companies are warning the storm will wreak havoc on earnings. the ce e o from clorox is here exclusively. >>> plus, sandy causing gas lines reminiscent of the 1970s throughout the new york area. we've got the latest details on the crisis and how ugly it's getting out there. >>> and at least those lines are over something essential like gasoline. check out all the people waiting to get their hands on apple's new mini ipad. there'sing in small about this show today. that and more next. [ male anno] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> welcome back. clorox just one of the many companies whe
session after a 2-day shutdown due to superstorm sandy. in the end, october had some wicked moments for investors, leaving the dow down 2.5% and the s&p 500 off 2%, while the nasdaq lost 4.5%. and employment figures from adp for september were revised down, showing 88,200 jobs were added verus the 162,000 originally reported. this is just a test. the people at research in motion are testing the new blackberry 10 smartphones with 50 carriers around the world. even though it was a down day yesterday, todd horowitz of average joe options joins us. todd, i have to tell you, it was good to see those traders back on the trading floor. what was your impression of that trade? > > good morning. it was nice to be back. it was nice to be back in action. however, the trade was very slow and very dull, and we're still trying to figure out, we're trying to make sure that all the systems were working properly, and there is a lot of news coming out today and tomorrow with the adp jobs today and the regular jobs report tomorrow. so, it figured to be a little slow yesterday anyway. > > we had a surp
facing lower manhattan as it tries to recover from superstorm sandy. and we take a look at this morning's early movers here on wall street. at optionsxpress we're all about options trading. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! we knew you needed a platform that could really help you elevate your trading. so we built it. chances of making this? it's a lot easier to find out if a trade is potentially profitable. just use our trade & probability calculator and there it is. for all the reasons you trade options - from income to risk management to diversification - you'll have the tools to get it done. strategies. chains. positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? around here, options are everything. yes mom, i'll place a long call to you tomorrow. i promise. open an account today and get a free 13-month eibd™ subscription when you call 1-888-280-0154 now. optionsxpress by charles schwab. lo
hundreds of companies lending a helping hand to the victims of superstorm sandy. corporate america has pledged over $50 million. the big bank is offering $5 million in loans to affected small businesses and donating to the american red cross. other household names giving include coca-cola, delta airlines, disney, home depot, lowe's, the nfl and target. from fuel to cash to communications. verizon communications warned today hurricane sandy could wreak havoc on its fourth quarter earnings. the wireless, phone and internet provider took on major damage in the storm. four of its facilities in new york flooded. as sylvia hall reports, verizon's warning is a sign of the damage felt by the tele- communications industry. >> reporter: just like with other telecom companies, verizon employees are working hard to restore service to the northeast. but it's not easy when they're also pumping water out of the basements of their flooded new york facilities, which are running on generator power. the company announced today that sandy's aftermath will likely extend to fourth quarter earnings. analysts
of superstorm sandy moving westward through pennsylvania, ohio, west virginia. fox's meteorologist janice dean who hasn't slept in days joining me now with the latest forecast. janice? >> i'm doing okay. my family, everyone is doing okay. that's the main thing and we hope that folks across the eastern seaboard are doing better this mooning. of course this is a storm that's affected millions of people. it is moving westward. we're still going to see the outer bands across new york, philly -- philly and d.c., the worst of the storm has moved westward. even 70 miles-per-hour gusts along the great lakes. that's pretty impressive. that's how wide a storm we're talking about and blizzard warnings, if you can believe it, blizzard warnings across portions of west virginia into kentucky, if you can believe it. peak wind gusts that we saw overnight last night, 90 miles-per-hour in islip. 89 in surf city. this was a massive event, really one we have not seen across the northeast. certainly a record breaker. wind gusts, to show you the massiveness of this storm, the low pressure moving into candy -- cana
for illinois, kentucky and tennessee. superstorm sandy could cost $20 million in property damage. already that is $5 billion more than hurricane irene. guaranteed that number goes up and 10 to $30 billion more in lost business. connell: let's talk about the new york stock exchange, one of the big story today that the exchanges back at it and open for the first time since hurricane sandy. close on monday and tuesday and early this morning nicole petallides had the chance to speak with c e o duncan neiderauer and asked if they could have opened the stock exchange earlier than today. >> we could have. it would have been irresponsible in light of what we know. we could have operated electronically and what the industry clearly told us on sunday was please don't open electronically because we have to put a lot of our people in harm's way so let's not do that. do i wish we came to a decision earlier? sure. but we all made the right decision. it would have been irresponsible and dangerous to be open monday and tuesday. dagen: coming up on quarter past the hour and want to do stocks now and every
closed due to superstorm sandy, soho, 14th street and grand central station. in asia, we were talking about in the last hour they're not selling those things as fast as they thought. aig swinging to a third quarter profit, beating forecasts after posting a nearly $4 billion net loss a year ago. the company saw improvements across all of its insurance businesses. the ceo telling maria bartiromo it's too early to estimate the financial impact of the storm. >> the coast guard opening the port of new york and new jersey on restricted basis allowing the backlog of barges containing relief supplies and oil. kelly, this week or next week, if i can get home today i can hold out 'til next week maybe. will it be okay? >> reporter: joe i think you'll see some incremental relief but you may still find yourself in a fuel line and i think it could be a week to two before we feel real wide seed relief. you can see the port of new york and new jersey behind me, sunrise coming up in a few minutes and it should see a little bit more action this morning, based on a coast guard lifting of the ban on boat
jobs report and superstorm sandy with donald trump straight ahead. >>> and maria means business. two major market movers, two exclusive interviews. starbucks ceo howard schultz and aig chief robert talk earnings and sandy's effect on their bottom lines. that's all ahead on the "closing bell." >>> welcome back. market up 130 points. let's get to bertha coombs. >> a lot of folks have worried about green mountain coffee with starbucks introducing the k-cup system. well, green mountain is going to be the official producer of costco's k-cups, which do sell most likely for a lot less than some of the other brand numbers. they got a six-week high off that news. still having a good day, nonetheless. back to you. >> all right, bertha. thank you so much. big rally headed into the close here. about 45 minutes left. let's take a look at where we stand with a market that's up in the triple digits. volume on a light -- well, it's mediocre right now, bill. i was surprised at volume yesterday headed into the close. things definitely picked up at the end of the day. >> as you would imagine at the end
. we should note these results do not include the effects of superstorm sandy. joining me now to talk about that is aig president and ceo bob benmosche. we appreciate you joining us today. >> my pleasure, maria. >> so let's first talk about the earnings results. take us behind the numbers. how would you characterize business? >> i think it's another strong quarter for aig. we've had, you know, several in a row now. all of our businesses are profitable, all contributing strong to the earnings. so we're very pleased with the results, and the fact is as i've said before, the crisis is over. the company's fundamentally very strong. very strong liquidity position and capital position for the company. we're continuing to grow into the future. >> what's your expectation for the next quarter, bob? what will drive business? >> next quarter will be more of what you saw in this quarter. a continued -- we had some minor issues that were with brought up in this quarter where accounting areas were brought up from the past. i don't think those will reoccur. we're going to have to deal with the effec
reopening for trading today after superstorm sandy kept it dark for a couple days. liz: bob, how are you doing? >> good, yourself. liz: want to get that out of the way. good to see you again, liz. liz: we're well. i guess with the nasdaq, electronic trading, the question is did you really have to close down? >> well, the fact we were ready for monday is not material. the whole industry has to be ready. we work as a community. i think it was the proper decision to be taken. i think the key point is we clearly have to get that much better with respect to continue -- continuity planning. david: bob, we'll talk about this for awhile today, and it's true over the various indexes, but we had a terrific year. you guys up 20% from this time last year, and, yet, volume has been very low. a lot of retail inviers are still -- investors are still afraid of the market, from 2008, and, of course, facebook has a lot to do with it. it the facebook controversy over now? how else can you work to bring in the retail investors? >> well, i would say this, the market is wider than any one's thought. facebook
, see how much you could save. >>> let's get an update on the damage from the superstorm sandy. brian shactman joins us from montauk with more. >> reporter: it's a study of contrasts on montauk. to my left it is gorgeous when the sun peeks through and to the shore there's a hen-foot drop to my left and there was no ten-foot drop yesterday and there's an incredible amount of beach damage. you can see the whole beachfront is destroyed. that was a bar and grill that has never seen damage like that. it is absolutely gone and you walk all the way up the shoreline and you see the same thing. they do think on the north shore, believe it or not, there's more damage because of the storm surge onisland sound. i talked to bill wilkinson the town supervisor, a retired disney executive who decided to run east hampton and he said the local fishermen told him they have never in their whole lives seen as much water come in as came in yesterday, so it's a big contrast. we have a beautiful ocean, a destroyed coastline on the south shore. on the north shore they're trying to assess the water damage. the
from superstorm sandy. they always make us say that. >> i think there's confusion as to call it a hurricane or not. when you have the death toll rising like we've seen. >> you don't want to say things like that but the questions are whether it's a hurricane or not and new york the government is pushing back saying -- >> it was three storms or at least two. >> pushing back on the insurers saying you can't take these hurricane, the deductibles because this was not a hurricane when it hit new york shores. that's a big deal for a lot of home and businesses. >> wow. lot of time there's wind versus flood, they parse the difference. >> wind versus water. >> and some of the hurricane deductibles were 1% to 5% of the value of the home so that's he a big deal and issue. residents in new york city are without power, tensions are starting to run high. residents are struggling to fuel their cars and get to work. scott cohn joins us from lower manhattan. >> reporter: hi, becky. here we are in water street in the financial district where there's no power and look, no traffic. now take a loo
back to normal today after superstorm sandy forced the new york stock exchange and the nasdaq to wait out the storm and stay close from the last two days. if investors areomin back today, they may be wondering whether there's going to be extra volatility. ira harris joins us right now from the cme group in chicago. what's the sense you get? i've actually been surprised by how orderly all of this has been to date. >> it has been orderly, but i think that's because we've been taking our reads off of the european markets, which have held up pretty well. better than well. and where we are positioned when the storm hit -- well, let me say my deepest sympathies for everybody out on the east coast who has to deal with this. especially, joe, ken langone who was sick in the hospital with pneumonia. >> oh, i didn't know that. >> but let's go with the stocks. we're at such critical junctures here. it's an amazing thing, when i was going through my work the last couple days, to see the convergence of 200 moving day averages. it's a mean reversion. so we are coming back to an interesting stop poin
shortage in the wake of sandy. the agency issuing a temporary blanket waiver of the jones act allowing foreign flags fuel tankers from the gulf of mexico to supply the northeast. the superstorm caused a shoutdown of two refineries in the region. >>> verizon reporting fourth quarter results will take a big hit because of sandy outages and remediation efforts. the said it is not possible at this time to estimate the impact but expects it to be pretty significant. >>> sources telling bloomberg, rockdale securities is looking for a capital injection following a massive trading error. executives at the brokerage telling employees and investors a trader made unauthorized purchase of apple which eroded the firm's capital. that is very latest from the fox fox business network, giving you the power to prosper lori: watching markets. quarter till. let's check the market with nicole petallides on the floor of the new york stock exchange. how will sandy hurt their bottom line? >> no surprise to hear companies will begin and i'm sure, lori and melissa, over the next 10, 12 days, reporting a lot of
from hurricane sandy as it churns towards the northeast with more than 50 million people in its path. the superstorm now expected to slam into the south central new jersey coast sometime later this evening. power outages expected to be widespread. transit systems from new york to boston already shut down. nearly 8,000 flights canceled thus far. financial markets are closed as well and may very well be dark again tomorrow. in fact, water already moving in to lower manhattan. that's where we find our scott cohn in battery park. scott? >> reporter: hi there, scott. at the moment, it's just sort of a miserable, cloudy, cold, rainy day. and if that were the worst of it, that would be fine. earlier this morning at high tide, as we were standing here at the battery, there was water up to about here coming in from new york harbor. when the storm comes through and you have storm surge on top of that and the full moon, you could be looking at water coming up around here. obviously i would not be able to be standing here. that's what has everyone in manhattan worried. because that gets you into
're looking at what the market is doing on the first day of trading following the superstorm. apple on track for it is worst monthly drop since 2008 as the market gets the first opportunity to trade the management shake-up. >>> and filling up at the pump, different around sandy's hardest-hit areas. we're looking at the energy trade as the east coast refineries getting up and running. we'll see you in about 15 minutes or so. >> thank you, scott. >>> governor christie is postponing halloween because of the hurricane sandy. he has put off celebrations under monday, november 5th because of unsafe conditions due to the storm. you've got to feel for all the kids in jersey. gary, a lot of people going through hardship. >> the children out by where i am, halloween is the last thing on their mind. getting electricity would be the best trite. >> and that's for homes that -- important to note. >>> the first flight into the newark liberty airport was a fedex plane, landed at 7:12 a.m. fedex is expecting to resume flights today. paul tronsore leads the control center, is in memphis this morning. thank yo
Search Results 0 to 38 of about 39 (some duplicates have been removed)